Much like the task of tackling Scope 1 emissions, companies should begin their circularity journey by addressing waste production under their direct control.
The healthcare sector, for example, creates a high volume of waste, with as much as 90% from single-use devices.2 Sustainable approaches to MedTech offer an alternative to these traditional, high-waste operating models. High-value and high-energy use machines such as MRIs and ultrasound imaging are being built with the ability to refurbish baked in. That means that when new, more efficient systems emerge, the technology can be updated rather than retired.
Technologies such as 5G and multi-access edge computing are delivering ultra-fast data speeds and low latency, in turn opening more opportunities for MedTech to achieve efficiencies in the sector. For example, immersive holomedicine allows for pre-surgery planning in a virtual environment. Virtualising not only removes the waste associated with the planning session but also reduces potential waste during surgery by providing a more thorough view of the patient's CT Scans, MRI images, or ultrasounds.
While the healthcare sector focuses on reducing waste through MedTech, other sectors can seek suppliers that help enable their sustainability goals, such as food manufacturers seeking innovation in bioplastics or edible food packaging to reduce reliance on single-use plastics. The Singapore-focused ‘sustainable procurement guide’ supports a fully green economy and particularly encourages investment in tech that can positively impact the environment.3